S&P500 E-mini futures<\/h2>\n\n\n\nThe Weekly<\/em> S&P 500 E-mini chart<\/h3>\n\n\n\n![\"E-mini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/01\/E-mini-Weekly-Bulls-Need-BO-Bears-Want-Wedge-Top-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- This week\u2019s E-mini candlestick was an outside bull doji closing around the middle of its range. A doji is a one-bar trading range where buyers and sellers are balanced.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would watch whether bulls could produce further follow-through buying to new all-time highs, or whether the market would continue to trade sideways near the October 29 high.<\/li>\n\n\n\n
- The market traded slightly higher to a new all-time high but has continued to trade sideways around the October 29 high area.<\/li>\n\n\n\n
- Bears see the current rally as a retest of the prior trend extreme high (October 29).<\/li>\n\n\n\n
- They see three pushes up (December 11, December 26, and January 12), forming a wedge top and a double top (October 29 and January 12).<\/li>\n\n\n\n
- Bears want the October 29 high area to act as resistance; if the market trades higher, they hope follow-through buying will be weak, resulting in a failed breakout.<\/li>\n\n\n\n
- Bears need consecutive strong bear bars breaking well below the 20-week EMA to show control.<\/li>\n\n\n\n
- Bulls see the November 21 selloff as a pullback that relieved overbought conditions.<\/li>\n\n\n\n
- They see subsequent pullbacks forming higher lows (December 17, January 2, and January 12), creating an ascending triangle. The three pullbacks can also be viewed as a wedge bull flag (December 17, January 2, and January 14).<\/li>\n\n\n\n
- Bulls need a strong breakout with sustained follow-through buying to increase the odds of a trend resumption, with a measured move target near 7,400 based on the height of the recent trading range.<\/li>\n\n\n\n
- If the market trades lower, bulls want the 20-week EMA to act as support, forming another leg in a larger developing wedge bull flag (first two legs: November 21 and December 17).<\/li>\n\n\n\n
- The past seven candlestick bodies are overlapping in a tight range, indicating breakout mode.<\/li>\n\n\n\n
- Buying pressure since the November 21 low has been slightly stronger (bull bars closing near their highs) than selling pressure (bear bars with limited follow-through and prominent lower tails).<\/li>\n\n\n\n
- For now, traders will watch whether bulls can produce further follow-through buying to new all-time highs.<\/li>\n\n\n\n
- Or whether the market continues to trade sideways near the October 29 high instead.<\/li>\n\n\n\n
- Until bears produce consecutive strong bear bars, traders are unlikely to sell aggressively.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> S&P 500 E-mini chart<\/h3>\n\n\n\n![\"E-mini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/01\/E-mini-Daily-Bulls-Need-Strong-BO-Bears-Want-Wedge-Top-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The market made a new all-time high on Monday, but there was no follow-through buying. Wednesday gapped down and traded lower but stalled at the 20-day EMA, forming another higher low.<\/li>\n\n\n\n
- Last week<\/a>, we said traders were watching whether bulls could produce further follow-through buying to new all-time highs or whether the market would continue to stall near the October 29 high.<\/li>\n\n\n\n
- Bulls believe the November 21 pullback relieved overbought conditions.<\/li>\n\n\n\n
- They see subsequent pullbacks forming higher lows (December 17, January 2, and January 14), creating an ascending triangle. The three pullbacks can also be seen as a wedge bull flag (December 17, January 2, and January 14).<\/li>\n\n\n\n
- Bulls want a strong breakout with sustained follow-through buying and a measured move to around 7,400 based on the height of the recent trading range.<\/li>\n\n\n\n
- Bulls want the 20-day EMA and the bull trend line to act as support.<\/li>\n\n\n\n
- If the market trades lower and breaks the bull trend line, bulls want the move to form a higher low relative to the January 2 low and reverse up quickly.<\/li>\n\n\n\n
- Bears see the January 12 rally as a retest of the prior trend extreme high (October 29).<\/li>\n\n\n\n
- They want the market to reverse from a wedge top (December 11, December 26, and January 12) and a double top (October 29 and January 12).<\/li>\n\n\n\n
- If the market trades higher, bears hope follow-through buying will be weak, leading to a failed breakout.<\/li>\n\n\n\n
- Bears need consecutive strong bear bars closing near their lows and breaking well below the 20-day EMA and the November 21 low to show control.<\/li>\n\n\n\n
- Pullbacks since the November 21 low continue to form higher lows (December 17, January 2, and January 14), reinforcing the ascending triangle.<\/li>\n\n\n\n
- The increasingly tight range since December suggests the market is in breakout mode.<\/li>\n\n\n\n
- Traders are watching whether bulls can produce further follow-through buying to new all-time highs or whether the market continues to stall near the October 29 high.<\/li>\n\n\n\n
- Until bears produce consecutive strong bear bars, traders are unlikely to sell aggressively.<\/li>\n<\/ul>\n\n\n\n
Trading room<\/h2>\n\n\n\n
Al Brooks and other presenters talk about the detailed E-mini price action real-time each day in the Brooks Trading Course trading room<\/a>. We offer a 2 day free trial<\/a>.<\/p>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
![\"E-mini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/01\/E-mini-Weekly-Bulls-Need-BO-Bears-Want-Wedge-Top.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n
- \n
- This week\u2019s E-mini candlestick was an outside bull doji closing around the middle of its range. A doji is a one-bar trading range where buyers and sellers are balanced.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would watch whether bulls could produce further follow-through buying to new all-time highs, or whether the market would continue to trade sideways near the October 29 high.<\/li>\n\n\n\n
- The market traded slightly higher to a new all-time high but has continued to trade sideways around the October 29 high area.<\/li>\n\n\n\n
- Bears see the current rally as a retest of the prior trend extreme high (October 29).<\/li>\n\n\n\n
- They see three pushes up (December 11, December 26, and January 12), forming a wedge top and a double top (October 29 and January 12).<\/li>\n\n\n\n
- Bears want the October 29 high area to act as resistance; if the market trades higher, they hope follow-through buying will be weak, resulting in a failed breakout.<\/li>\n\n\n\n
- Bears need consecutive strong bear bars breaking well below the 20-week EMA to show control.<\/li>\n\n\n\n
- Bulls see the November 21 selloff as a pullback that relieved overbought conditions.<\/li>\n\n\n\n
- They see subsequent pullbacks forming higher lows (December 17, January 2, and January 12), creating an ascending triangle. The three pullbacks can also be viewed as a wedge bull flag (December 17, January 2, and January 14).<\/li>\n\n\n\n
- Bulls need a strong breakout with sustained follow-through buying to increase the odds of a trend resumption, with a measured move target near 7,400 based on the height of the recent trading range.<\/li>\n\n\n\n
- If the market trades lower, bulls want the 20-week EMA to act as support, forming another leg in a larger developing wedge bull flag (first two legs: November 21 and December 17).<\/li>\n\n\n\n
- The past seven candlestick bodies are overlapping in a tight range, indicating breakout mode.<\/li>\n\n\n\n
- Buying pressure since the November 21 low has been slightly stronger (bull bars closing near their highs) than selling pressure (bear bars with limited follow-through and prominent lower tails).<\/li>\n\n\n\n
- For now, traders will watch whether bulls can produce further follow-through buying to new all-time highs.<\/li>\n\n\n\n
- Or whether the market continues to trade sideways near the October 29 high instead.<\/li>\n\n\n\n
- Until bears produce consecutive strong bear bars, traders are unlikely to sell aggressively.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> S&P 500 E-mini chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n- \n
- The market made a new all-time high on Monday, but there was no follow-through buying. Wednesday gapped down and traded lower but stalled at the 20-day EMA, forming another higher low.<\/li>\n\n\n\n
- Last week<\/a>, we said traders were watching whether bulls could produce further follow-through buying to new all-time highs or whether the market would continue to stall near the October 29 high.<\/li>\n\n\n\n
- Bulls believe the November 21 pullback relieved overbought conditions.<\/li>\n\n\n\n
- They see subsequent pullbacks forming higher lows (December 17, January 2, and January 14), creating an ascending triangle. The three pullbacks can also be seen as a wedge bull flag (December 17, January 2, and January 14).<\/li>\n\n\n\n
- Bulls want a strong breakout with sustained follow-through buying and a measured move to around 7,400 based on the height of the recent trading range.<\/li>\n\n\n\n
- Bulls want the 20-day EMA and the bull trend line to act as support.<\/li>\n\n\n\n
- If the market trades lower and breaks the bull trend line, bulls want the move to form a higher low relative to the January 2 low and reverse up quickly.<\/li>\n\n\n\n
- Bears see the January 12 rally as a retest of the prior trend extreme high (October 29).<\/li>\n\n\n\n
- They want the market to reverse from a wedge top (December 11, December 26, and January 12) and a double top (October 29 and January 12).<\/li>\n\n\n\n
- If the market trades higher, bears hope follow-through buying will be weak, leading to a failed breakout.<\/li>\n\n\n\n
- Bears need consecutive strong bear bars closing near their lows and breaking well below the 20-day EMA and the November 21 low to show control.<\/li>\n\n\n\n
- Pullbacks since the November 21 low continue to form higher lows (December 17, January 2, and January 14), reinforcing the ascending triangle.<\/li>\n\n\n\n
- The increasingly tight range since December suggests the market is in breakout mode.<\/li>\n\n\n\n
- Traders are watching whether bulls can produce further follow-through buying to new all-time highs or whether the market continues to stall near the October 29 high.<\/li>\n\n\n\n
- Until bears produce consecutive strong bear bars, traders are unlikely to sell aggressively.<\/li>\n<\/ul>\n\n\n\n
Trading room<\/h2>\n\n\n\n
Al Brooks and other presenters talk about the detailed E-mini price action real-time each day in the Brooks Trading Course trading room<\/a>. We offer a 2 day free trial<\/a>.<\/p>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n